Asparaginase Market Size | Global Analysis and Forecast 2028

The asparaginase market is expected to grow from US$ 564.01 million in 2021 to US$ 1,575.62 million by 2028. It is estimated to grow at a CAGR of 16.1% from 2022 to 2028.  

Asparaginase is an enzyme that breaks down asparagine. Asparaginase is used as a chemotherapy drug to treat acute lymphoblastic leukemia (ALL), lymphoblastic lymphoma (LBL), and certain other blood cancers. Unlike normal cells, ALL cells are unable to make their asparagine. Therefore, asparaginase stops the cancer cells from dividing and growing. Asparaginase is derived from Escherichia coli, Erwinia chrysanthemi, pegylated asparaginase, fungi, algae, and others.

The global asparaginase market is segmented on the basis of type, application, end-use industry, and geography. By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. This report offers insights and in-depth analysis of the market, emphasizing on parameters, such as market trends and dynamics, and the competitive analysis of globally leading market players.

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Asparaginase Market: Strategic Insights

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Market Insights

Significant Growth of Pharmaceutical and Food Industry Boosts global Asparaginase Market

The pharmaceutical and food industry has developed significantly and observed various developments to ensure the high quality of food and pharmaceutical products. According to the European Federation of pharmaceutical industries and associations, North America accounted for 49% of global pharmaceutical sales in 2021, and 63.7% of sales generated from newly launched medicines from 2015 to 2020. Moreover, the pharmaceutical industry is developing at a significant rate, supported by the surge in R&D activities, and an increase in investment in the pharmaceutical industry by market players is further driving the market.

The food industry is constantly expanding with a never-ending increase in food demand. There is also a continuous rise in novel food products. Nowadays, manufacturers focus on the nutritional quantity of food. The consumption of fried and baked food worldwide has increased substantially, and the inclination toward such food items has also surged. Asparaginase is the main amino acid responsible for reducing sugar in fried and baked foods condensed with carbonyl sources.

Type Insights

Based on the type, the global asparaginase market is segmented into Escherichia coli (E. coli), Erwina Chrysanthemi, Pegylated, and others. The Escherichia coli segment held a larger share of the market in 2021, and this segment is anticipated to register the highest CAGR in the market during the forecast period of 2022-2028, owing to the increasing demand for asparaginase derived from E. coli for the treatment of cancer, such as ALL and LBL.

Asparaginase-derived E. coli is used for the treatment of acute lymphoblastic leukemias. Asparaginase E. coli is an enzyme that catalyzes L-asparagine into L-aspartic acid and ammonia. It helps in the production of oxaloacetate needed for cellular metabolism. Asparaginase from E. coli has an antitumor property that is used for the treatment of leukemias. Thus, the demand for asparaginase E. coli for cancer treatment, especially in pediatric patients, is driving the market growth.

Application Insights

Based on application, the global asparaginase market is bifurcated into therapeutic, food processing, and others. The therapeutic segment held a larger share of the market in 2021, and this segment is anticipated to register the highest CAGR in the market due to its use in the treatment of lymphoproliferative disorders and lymphomas. The segment is further segmented into acute lymphoblastic leukemia, lymphoblastic lymphoma, and others.

Acute lymphoblastic leukemia is a type of blood cancer and bone marrow, which is fatal when untreated. According to Institute for Health Metrics and Evaluation, about 153,000 new cases and 47,600 deaths of acute lymphoblastic leukemia were reported globally in 2019. Thus, increasing cases of acute lymphoblastic leukemia globally are driving the growth of the global asparaginase market.

Asparaginase Market Regional Insights

The regional trends and factors influencing the Asparaginase Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Asparaginase Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Asparaginase Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Asparaginase Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Asparaginase Market are:

1. Servier Pharmaceuticals LLC
2. Jazz Pharmaceuticals plc
3. BioVendor R&D
4. Creative Enzymes
5. medac GmbH

Disclaimer: The companies listed above are not ranked in any particular order.

End-use Industry Insights

Based on end use, the global asparaginase market is segmented into healthcare and food manufacturing. The healthcare segment held a larger share of the market in 2021. Furthermore, the same segment is expected to register the highest CAGR from 2022 to 2028. The driving factor for this segment's growth is the rising acute lymphocytic leukemia, lymphoblastic lymphoma, and growing research activities.

Inorganic growth strategies witnessed in the market were mergers and acquisitions, partnerships, and collaborations. These activities have paved the way for the expansion of business and the customer base of market players. A few of the recent key market developments are listed below:

• In May 2021, Jazz Pharmaceuticals acquired GW pharmaceutical company to enhance its R&D capabilities. This acquisition will also help the company to develop and commercialize cannabinoid-based prescription medicines.
• In April 2021, Servier completed the acquisition of Agios Pharmaceuticals’ US$2 billion-plus royalties, including commercial, clinical, and research-stage oncology portfolio. This acquisition strengthens Servier’s commercial presence in the US malignant hematology market and provides the potential for long-term growth in the solid tumor space.
• In August 2018, Medac GmBH, in partnership with FarmaMondo SA, will exclusively distribute Spectrila via a Managed Access Program for targeted Healthcare Providers in Russia, Georgia, Azerbaijan, Kyrgyzstan, Uzbekistan, and Moldova. FarmaMondo will manage access to Spectrila for patients with acute lymphoblastic leukemia.

Some of the key players operating in the global asparaginase market include Servier Pharmaceuticals LLC, BioVendor R&D, Creative Enzymes, medac GmbH, Changzhou Qianhong Bio-pharma Co Ltd, United Biotech, Porton Biopharma, Taj Pharmaceuticals Limited, and Jazz Pharmaceuticals plc.